This week, the global crypto market capitalization has seen a modest 2% uptick despite the broad sideways trend across multiple assets.
Amid this backdrop, several altcoins have stood out as key ones to watch heading into the weekend of August 9–10. They recorded significant gains during the week and show strong potential to continue their upward momentum in the coming days.
Mantle (MNT)
Mantle has emerged as the top-performing altcoin over the past week, with its price surging more than 45%. According to Santiment, this price rally has been accompanied by a steady increase in daily trading volume.
Over the last seven days, MNT’s trading volume has climbed by 250%, reaching $753 million at the time of writing.
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When an asset’s price rises alongside a spike in trading volume, it signals strong market interest and conviction behind the move. MNT’s increased daily trading volume confirms that its price action is supported by more market participants actively engaging with the asset, making the trend more reliable.
If the current buying momentum continues, MNT’s price could potentially soar to $1.14 in the near term.
However, if demand wanes and buying pressure diminishes, the token’s price risks slipping below the $1 mark.
Pump.fun (PUMP)
PUMP, the native token of the pump.fun utility coin launch platform, is another altcoin to watch this weekend.
Trading at $0.0033 at press time, its price has rocketed by 31% in the past week, making it one of the top-performing altcoins during that period.
Readings from the token’s Elder-Ray Index suggest a strong likelihood that the token will continue extending its gains during the upcoming weekend sessions. At press time, the index stands at 0.000275, having posted only positive values over the past four trading sessions, an encouraging sign of sustained bullish momentum.
The Elder-Ray Index measures the balance of buying and selling pressure in the market by analyzing bullish and bearish forces separately. A positive reading indicates buyers dominate and are pushing prices higher.
If PUMP buyers remain in control, they could drive its price to $0.0040.
On the other hand, a rise in sell-side pressure could cause PUMP to lose some of its gains and fall below $0.0032.
MemeCore (M)
MemeCore has gained 24% over the past week, rising by $0.44. However, signs of strengthening sell-offs are starting to show. This is reflected in the Chaikin Money Flow (CMF) indicator, which currently hovers around the zero line and appears poised to dip below it.
This suggests potential downward pressure on the token’s price, making M an important asset to watch over the weekend.
The Chaikin Money Flow (CMF) is a volume-weighted indicator that measures buying and selling pressure over a specified period by analyzing price and volume data. When the CMF is above zero, it indicates buying dominance and accumulation, while a reading below zero signals selling pressure and distribution.
As with M, a CMF poised to fall below the zero line suggests that sellers may gain control, increasing the likelihood of a price decline.
If profit-taking continues, M’s price could drop to around $0.41.
Conversely, if buying interest remains strong, the token could rally further, reaching $0.47 in the near term.
The post 3 Altcoins To Watch This Weekend | August 9 – 10 appeared first on BeInCrypto.
